ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Start a New Small Business: Benefits, Decisions & Resources

Updated on April 24, 2013
Need a small business that can operate without too much on site management?  If so, a laundromat may be for you!
Need a small business that can operate without too much on site management? If so, a laundromat may be for you! | Source

There are many reasons for starting a business. Some do it because they want to have control over their own destiny. Others do it because they are passionate about what they do and want to develop their own brand and culture. Still others are looking to achieve a better work and life balance by working for themselves.

Whatever your reasons for starting your own business, the time has never been better. More than 600,000 new businesses are started each year. Many small and home businesses can be started on a shoe-string budget or allow you to turn a hobby into a business. Some of the most exciting opportunities are featured here.

Why Start Your Own Business?

I am starting my own business to:

See results

Should You Start a Home Business?

With so many opportunities for small and home businesses, the first thing to decide is whether your new business will be based in your home or in a more traditional business office setting. Many businesses can be managed quite well from the home while others require a location for production, multiple employees, and branding. There are some business that can work well in either venue.

If you are considering a home business, it is important that you are able to work unsupervised and are self-motivated. You must be able to tolerate being alone and not having social interaction found in a typical office setting. You must be able to create and stick to a schedule to successfully manage your business. Minimal costs are associated with running a home business, and there are tax benefits for using a portion of your home as your working office. Many home businesses are started on a shoestring budget.

Tips for Starting Your Small Business

Is a Brick and Mortar Business for You?

Think the traditional small business within an office or facility is more your style? You will want to find a suitable location. Depending on the type of business you will need to purchase furnishings,equipment and inventory necessary for your daily operations. This type of business has a considerable overhead, and you must budget for the purchase/lease of your office, utilities, maintenance, and employees. You will want to be sure to have enough capital available to manage your budget during the start up.

Making the choice of between a home business or traditional small business should take all of these things into consideration. You will need to be totally comfortable with your budget as well as your working environment in either situation. Choose wisely.

Starting a Business You Have Experience in Means:

  • You know the industry
  • You have a network of business partners
  • You know your potential client base
  • You are familiar with processes and practices
  • You recognize potential pitfalls and obstacles
  • You have a higher potential for success

How to Decide on the Type of Business to Start

Starting a new business is a challenging endeavor even when you are a seasoned professional. Many new entrepreneurs get excited at the opportunity to strike out in a bold new field in which they have little or no experience. While it can be done, it will indeed be more of a challenge,and the road to profits may be considerably longer.

Imagine that you are a student in college. All of your classes are in your native language, English. One day, you decide to take all of your classes in a different language, Chinese. You have no knowledge of how to speak or read Chinese; but you thought it was a good idea, and you will learn as you go. While it can be done, you will no doubt experience great difficulty adapting to a new alphabet, learning to read and write. Most likely your grades will suffer for a time. You may or may not be able to complete your studies. Ultimately, you find that what had seemed like such a great idea has led you to a great abyss.

While there are many choices in the types of businesses you can start, it is best to start a business about which you have some working knowledge. Starting out this way, you begin a new venture, but not a totally different work life. The basic work of the business is already familiar to you. You have a working knowledge of financial requirements for projects, etc... You already have the experience to make the product or provide the service and are aware of the potential pitfalls. You have the benefit of being acquainted with a network of others in the same or similar fields that you can call on for expertise or clients. The benefit of starting out in a business you are familiar with make the task that much easier - and probably, more successful!

Do you have experience as a barber or hairstylist?  Starting your own business can be as simple as finding a suitable location and hanging out your shingle.
Do you have experience as a barber or hairstylist? Starting your own business can be as simple as finding a suitable location and hanging out your shingle. | Source

Best Home Business Ideas

Virtual Assistant (VA) - Do you excel in the office? Got a knack for social media, organizing and typing? You may be a perfect Virtual Assistant. VA's provide assistance to business owners and others. Typically, the VA manages tasks that the client has grown too busy to do himself. Some tasks include: opening and responding to email, typing, content writing, managing websites, maintaining online social networks, and so on.

Online Resale - Got a great eye for a bargain? Need to clean out your closets? You may want to consider selling items online via Ebay or another online auction website. Depending on the products you have to sell you may be able to make considerable income just clearing out goods from your home. Additional products to sell can many times be picked up at yard sales or thrift stores.

Website Design - Know how to work with computers? Have you designed websites? Are you good with computer code? A website design business may be just what you're looking for. With the continued growth of the internet, a strong line presence is a must for every business. Website design is just the beginning with this business, and residual income is available with website management on client accounts.

Want to Strike Out on Your Own?

What kind of business are you thinking of starting?

See results

Best Small Business Ideas

Elder Care Services - Do you have experience in healthcare? If so, an elder care service business may be for you. This is an industry that is on the grow in the USA due to the rapid growth of the population that is age 65 and older. Home health care and other elder care services provide an array of services to the sick, injured and homebound and are wonderful alternatives to nursing home placement. If you enjoy caring for others and value our aging generation, a elder care service business could be for you!

Self Improvement - More and more people are working to improve themselves in an amazing variety of ways. If you have experience as a motivational speaker, are a master of networking, or are a health and fitness guru, a self improvement business may be just what you are looking for!

Consignment Store - With unemployment on the rise Americans have fewer dollars to spend. That means the time is right for consignment stores of all types! Consignment stores provide an opportunity for new business owners to share in the costs of inventory with those who are looking to sell items. Whether you choose appliances, childrens clothing or a variety consignment store, this business is sure to boom!

Staffing Agency - With many companies experiencing an economic crunch, the need for flexible and temporary staffing has never been greater. Businesses save money on full time employees and benefits by using the services of staffing agencies. Staffing agencies are able to provide full time, part time, temporary, and temporary to permanent employees as needed by businesses. If you like networking and have business savvy, a staffing agency may be for you!

Got a love for flowers and floral design?  Grow your passion in your own flower shop!
Got a love for flowers and floral design? Grow your passion in your own flower shop! | Source


    0 of 8192 characters used
    Post Comment
    • profile image


      6 years ago

      I got into this article which sesprirus me since this isn't one of my interests. You did such a good job of presenting your facts that I couldn't stop reading.

    • profile image


      6 years ago

      There are actually a nbmuer of details like that to take into consideration. That is a great level to carry up. I offer the thoughts above as normal inspiration but clearly there are questions like the one you carry up where a very powerful thing will be working in sincere good faith. I don?t know if finest practices have emerged round issues like that, but I am positive that your job is clearly recognized as a fair game. Both boys and girls really feel the impression of just a second’s pleasure, for the rest of their lives.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)